Hero Electric Scooter Exchange Programme Announced In India: Powered By CredR

The partnership aims to add more EV users with the exchange scheme, which will reduce the up-front retail cost of electric scooters. This will also help boost the adoption of electric vehicles in the country.

Customers will be provided with a convenient and hassle-free exchange scheme for their used two-wheelers in return for a brand new Hero electric scooters. Buyers will be receiving their new vehicle within days.

Potential buyers looking to avail the scheme can visit any of the Hero Electric showrooms at select cities across the country. They will need to bring their old petrol two-wheelers for physical inspection and valuation.

CredR will provide an instant price quote/estimate through the proprietary pricing application at the showroom. CredR will verify the documents and the health of the petrol version of the two-wheeler as a final procedure. The exchange price will then be adjusted against the final cost of the new Hero Electric scooters.

While exchanging the scooter, CredR will offer instant quotes for old petrol scooters which will help in reducing the upfront purchase price. It will make it easier for potential EV buyers in the country to switch to green mobility. At present, the exchange program is offered in Delhi NCR, Hyderabad, Jaipur, Bangalore and Pune. It will soon be expanded to other cities across India.

Commenting on this collaboration, Sasidhar Nandigam, chief strategic officer, CredR said, "India's electric mobility landscape is going to change dramatically post Covid-19 pandemic and the sales are expected to rise. As the sales of overall two-wheelers will see a boom, there will also be a rise in sales of second-hand e-two wheelers. Currently, electric mobility contributes to less than 1% of the two-wheelers market that can only increase from here. We are tremendously excited to partner with an industry giant like Hero Electric in bringing about this shift in the market."

Sohinder Gill, CEO, Hero Electric said, "As one of the leading EV brands in India, we are looking to enhance the accessibility and affordability for e2W buyers. Post unlock, we have seen good demand for Hero e-scooters as a reliable and affordable personal mobility solution. We believe increased consciousness towards safer and affordable means for transportation will make more petrol buyers consider EV. At this juncture, the instant exchange scheme from CredR clubbed with unique leasing and low instalments will only help more people buy a Hero Electric scooter."

Thoughts About The Hero Electric & CredR Partnering For Electric Scooter Exchange Programme In India

Hero Electric aims to increase its customer base with the new exchange scheme announced in the country. Additionally, there has been a substantial rise in electric two-wheeler sales in India. The new exchange scheme is expected to attract more customers which will help further increase the sales numbers.